President Donald J. Trump (White House)
President Donald Trump said Sunday that overall prices and inflation are “coming down very substantially” during his second term, adding that current levels are “much lower” than under the Biden administration.
This statement, however, contrasts in some ares with recent Bureau of Labor Statistics (BLS) data on consumer prices.
“Our prices are coming down very substantially on groceries and things,” President Trump told reporters. “They’re already at a much lower level than they were with the last administration.”
According to the BLS, the annual inflation rate stood at 3% in September, the highest since January.
According to the BLS, the annual inflation rate for September was 3%, the highest since January. Furthermore, the overall consumer price index has risen an average of 1.7% during the President’s second term, with grocery prices increasing 1.4% between January and September.
However, a review of the energy sector shows a different trend:
- Gasoline Prices: The BLS reported that, over the 12 months ending in September, the index for gasoline fell 0.5%, suggesting a downward trajectory for fuel costs despite a monthly increase in September.
The data paints a mixed picture across categories, suggesting that consumers experience different price realities depending on their purchasing habits.
Specific product categories that have seen declines include pharmaceuticals and eggs. Conversely, many other items have seen price increases in recent months, with those subject to the administration’s new tariffs being specifically affected.
The President’s claims of substantially falling prices are partially supported by declines in specific goods and energy prices. However, the official inflation metrics and most consumer price indexes indicate an overall rising trend.
READ: Novo Nordisk Slashes Wegovy And Ozempic Prices Amid Trump Pressure And Competition
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